What we’re reading (8/10)
“Millions Of Americans Are Unemployed Despite Record Job Openings” (Wall Street Journal). “The 10.1 million job openings in June is the highest level since record-keeping began in 2000, but a two-year average of monthly openings—which includes the drop in hirings in spring of 2020—shows a depressed rate, indicating that the current surge has yet to fully offset the halt in hiring seen last year.”
“U.S. Small Business Optimism Drops As Labor Shortages Persist” (Reuters). “Small business owners across the United States grew less confident in the economic recovery in July as labor shortages remained an issue, according to a survey released on Tuesday. The National Federation of Independent Business (NFIB) Optimism Index fell 2.8 points to a reading of 99.7 in July, almost erasing all of June's gain. Six of the 10 index components declined, three improved and one was left unchanged.”
“SoftBank Unit Behind Risky Multibillion-Dollar Tech Bets Dumps Microsoft, Facebook, Alphabet And Netflix Shares” (CNBC). “SoftBank has offloaded shares of U.S. tech giants like Facebook, Microsoft, Alphabet and Netflix, according to its latest financial report released on Tuesday. The Tokyo-headquartered conglomerate invests in publicly listed shares through its SB Northstar trading unit and provides a breakdown of the unit’s portfolio companies in its quarterly results.”
“No Mystery In Falling Bond Yields” (Fisher Investments). “[A]fter the rebound back to pre-pandemic GDP levels, more pedestrian pre-pandemic growth rates should follow. Countries that reopened earlier—and regained their pre-pandemic peaks—like China and America, are already experiencing this. Meanwhile, economists are penciling in similar, with quarterly eurozone GDP growth estimates falling back to sub-1% q/q next year—its typical rate range. Inflation also seems to be leveling off, with June’s reading decelerating to 1.9% y/y. Inflation fears have tapered off as well, and most pundits now presume this year’s inflationary pressures are temporary anomalies. Falling eurozone bond yields are perfectly consistent with the economic outlook many see: slower economic growth and milder inflation than they initially expected.”
“Brands Are Already Marketing To Generation Alpha” (Vox). “Both new and traditional kid-focused brands have, for the most part, abandoned the kitschy, rainbow-colored packaging used in the ’90s and early aughts. Think of the commercials for Fruit Gushers candy and Kid Cuisine microwavable meals. Instead, they’ve defaulted to the minimalist aesthetic familiar to any millennial-aged shopper, with serif fonts and cohesive pastel color schemes that subtly inform the consumer that this brand is ethical, economical, and safe for their child. ‘You can tell Gen Alpha are kids of millennials because their snacks are filled with these labels,’ tweeted Andrea Hernández, a food and beverage trend analyst. ‘Paleo, keto, probiotic, low carb, low sugar, plant based.’”
